Orchard Park, NY Nick Malagisi, SIOR and national director self storage for SVN Commercial Real Estate Advisors, recently facilitated the sale of the A2Z Self Storage facility at a sale price of $4 million.
The facility was originally developed by a local partnership in 2005 and then expanded a few years later. The facility has 370 rental units within 40,542 net rentable s/f and 30 outside parking spaces for campers/RV’s.
Malagisi was assisted in the sale by Howard Kravetz of ReMax-Rochester. The buyer is Public Storage, a national operator with eight other facilities in the Metro Buffalo area.
SVN Commercial Real Estate Advisors offer both national reach and local expertise across all self-storage property types and provide in-depth knowledge of this unique investment type, including representation in more than 100 markets across the United States. The self-storage industry is increasingly becoming a desired investment commodity, gaining the attention of investors on both a national and international level. What further sets this specific asset class apart is that self-storage properties are not just real estate, but also business investments that require a unique understanding of the business model.